BG Group Posts Surge In Q1 Net Profit

BG Group PLC

reported a strong rise in its first-quarter net profit. BG Group's quarterly net profit climbed to $1.22 billion, from $597 million, in the year-ago quarter. Excluding some items, BG's profit came in at $1.27 billion, versus analysts' estimates of $1.29 billion. Total oil and gas production rose 3.4% y/y to 669,000 barrels of oil equivalent a day. However, analysts were projecting production of 667,000 barrels of oil equivalent a day. BG Group's revenue surged 20.6% y/y to $5.78 billion from $4.79 billion. BG Group shares closed at $23.70 yesterday.